Peloton Interactive (NASDAQ:PTON) Price Target Cut to $7.00 by Analysts at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTON) had its price objective cut by analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 104.38% from the company’s current price.

Other analysts have also recently issued reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a report on Monday. Roth Mkm cut their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Sanford C. Bernstein downgraded Peloton Interactive from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $8.00 to $3.80 in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a report on Friday. Finally, Macquarie dropped their target price on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a report on Friday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.15.

Peloton Interactive Stock Performance

PTON traded up $0.29 on Friday, hitting $3.43. The company had a trading volume of 34,761,060 shares, compared to its average volume of 14,940,079. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. The stock has a fifty day moving average price of $3.94 and a 200-day moving average price of $4.88. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) EPS. Analysts forecast that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Activity

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in Peloton Interactive by 162.0% during the third quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock worth $654,000 after buying an additional 80,047 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Peloton Interactive by 149.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock worth $281,000 after buying an additional 33,307 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Peloton Interactive by 73.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock worth $152,000 after acquiring an additional 12,697 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Peloton Interactive by 18.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock worth $258,000 after acquiring an additional 7,875 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in Peloton Interactive by 1.2% during the third quarter. Calamos Wealth Management LLC now owns 824,714 shares of the company’s stock worth $4,165,000 after acquiring an additional 10,100 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

About Peloton Interactive

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.